N.Y. Banking Law Section 27
Exchange and examination of securities


1.

Any corporation, unincorporated association, partnership or individual which shall have deposited with the superintendent in trust any stocks or bonds in pursuance of any requirement of this chapter, may be permitted by the superintendent, so long as it shall continue business in the ordinary course, from time to time to withdraw any of such stocks or bonds upon depositing with the superintendent other stocks or bonds of the kind it is required by this chapter to deposit with him and if the value of the stocks or bonds so held by the superintendent exceeds the amount required by this chapter to be so deposited, the stocks or bonds in excess of such amount may be withdrawn without depositing others in exchange therefor.

2.

Any such corporation, unincorporated association, partnership or individual may, at any time during ordinary business hours, examine such stocks or bonds and compare them with the record on the books of the department. Unless it shall deliver to the superintendent at least once in each calendar year, a statement listing such stocks or bonds and the amounts thereof, and stating that they are in the custody and possession of the superintendent at the date of the statement, the state comptroller and the superintendent shall appoint some suitable and discreet person as agent for such corporation, unincorporated association, partnership or individual, who shall make an examination of such stocks or bonds. If such agent finds that the stocks or bonds held by the superintendent agree with the records thereof on the books of the department, he shall execute a statement in the form above described and transmit a copy thereof to the corporation, unincorporated association, partnership or individual in behalf of which it is made, and such statement shall have the same force and effect as if executed by such corporation, unincorporated association, partnership or individual. Compensation for the services and expenses of such agent in making such examination shall be paid as a general expense of the department.

Source: Section 27 — Exchange and examination of securities, https://www.­nysenate.­gov/legislation/laws/BNK/27 (updated Sep. 22, 2014; accessed Nov. 25, 2023).

10
Declaration of policy
11
Department of financial services
12–A
Power of state chartered banking institutions to exercise the rights of counterpart federally chartered banking institutions
14
Additional powers of the superintendent
14–A
Rate of interest
14–B
Power of the superintendent of financial services to prescribe minimum rate of interest on mortgage escrow accounts
14–C
Power of the superintendent of financial services to prescribe criteria for disclosure of information on savings and time accounts
14–D
Power of the superintendent of financial services to prescribe a reasonable period of time permitting the drawing on items received for d...
14–E
Power of the superintendent to authorize the operation of savings banks and savings and loan associations in stock form
14–F
Power of the superintendent of financial services to require the provision of basic banking services
18
Fees for copies and certifications
18–A
Application fees
18–B
Holocaust reparations payment fees
19
Assessments for deficiency in reserves against deposits
20
Assessments, penalties and forfeitures entitled to priority
21
Collection of assessments, penalties and forfeitures
22
Fingerprints
23
Acceptance or rejection of certificate
24
Investigation by superintendent
25
Authorization certificate
25–A
Authority of superintendent to file organization certificate and issue authorization certificate under certain conditions
26
Licenses to foreign banking corporations
27
Exchange and examination of securities
28
Change of location
28–A
Temporary change of location
28–B
Credit needs of local communities
28–BB
Credit needs of local communities
28–C
Branch office closings
29
Branch offices
30
Unclaimed amounts
31
Index of persons entitled to unclaimed amounts
32
Insurance of deposits and share accounts
33
Reserve depositaries
34
Superintendent as attorney to accept service of process
36
Examinations
36–A
Reports of lending by banking organizations
36–B
Preservation of books and records
37
Reports to superintendent
37–A
Submission of annual reports by the Holocaust claims processing office
38
Power of subpoena
39
Orders of superintendent
40
Revocation of authorization certificate or license or suspension of activities in certain cases
41
Removal of director, trustee or officer
42
Official acts of superintendent and details of department business to be made public
44
Violations
44–A
Violations and penalties
45
Export finance awareness program

Accessed:
Nov. 25, 2023

Last modified:
Sep. 22, 2014

§ 27’s source at nysenate​.gov

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